MPs demand action from pensions regulator over ‘staggering’ deficit in rail sector April 15, 2019 The Pensions Regulator (TPR) has been asked to come clean on the extent of the rail sector's pensions deficit after the issue was brought to a head with the government's decision to ban Stagecoach from bidding for three franchises. MPs on the Committee for Work and Pensions wrote to TPR chief executive Charles Counsell last week [...]
Top Tories give backing to Theresa May until Brexit deal is agreed in parliament April 15, 2019 Top Tories lined up behind the Prime Minister today to say a leadership contest should not be triggered until a Brexit deal is passed through parliament. Foreign secretary Jeremy Hunt, who is seen as a contender for the top job along with his predecessor, Boris Johnson, said talk of a leadership contest was a “sidetrack” [...]
Jeremy Corbyn could hit bank profits as hard as a no-deal Brexit, warns Citi April 15, 2019 The election of Labour leader Jeremy Corbyn as prime minister would have as damaging an effect on UK bank profits as a no-deal Brexit, according to a note from investment bank Citi. Read more: Comrade Corbyn’s statist policies would tank the British economy Labour is edging ahead of the Conservatives in the polls, with the popularity [...]
EU member states give green light on US trade talks despite French resistance April 15, 2019 The European Union has voted to kick off trade talks with the US in the face of French resistance, it announced today. Read more: US threatens tariffs on $11bn of EU goods A meeting of member states today voted overwhelmingly to give the European Commission, which deals with trade policy, the green light to start negotiations [...]
Boeing should rebrand 737 Max jet after deadly crashes, tweets Trump April 15, 2019 Boeing should seek to turn around the fortunes of its 737 Max jet by rebranding the model, according to US president Donald Trump. Read more: Boeing to reduce 737 model production in wake of crashes In an early morning tweet from Washington, Trump offered the world’s biggest jet manufacturer a slice of his unique wisdom, [...]
Activist Bramson implores Barclays shareholders for seat on board in new letter April 15, 2019 Activist investor Ed Bramson has once again appealed to Barclays’ shareholders to give him a seat on its board in the run up to the bank’s 2 May annual general meeting. Read more: Barclays launches another attack on Bramson as public tit-for-tat rolls on Bramson’s company, Sherborne Investors, today sent a letter to Barclays shareholders, marking [...]
What’s next for Europe’s capital markets? April 15, 2019 There are big questions on the horizon about the next steps for Europe’s financial sector. This topic was at the top of the agenda recently when I was in Romania for the Eurofi regular gathering of European finance ministers, financial services policy makers and industry representatives. As the current EU legislative cycle winds down before [...]
Brexit impasse sends UK business confidence plummeting, new surveys show April 15, 2019 The political crisis surrounding Brexit has sapped confidence from some of the UK's biggest and smallest companies alike, as crunch talks between Labour and the Conservatives reach a “delicate stage” this week. Read more: MPs could be forced to choose a Brexit option if talks with Labour fail More than eight in 10 finance chiefs [...]
Retail veteran Terry Duddy set to replace Bucher as Debenhams boss April 14, 2019 Retail veteran Terry Duddy is being lined up to take over as chief executive of department store chain Debenhams as administrators pin their hopes on the troubled firm’s interim chairman to lead a major restructuring plan. Read more: Revealed: All 15 LK Bennett stores set to close in Chinese sale Current chief executive Sergio Bucher is [...]
Facebook, Instagram and Whatsapp down across Europe for more than three hours April 14, 2019 Facebook, Instagram and Whatsapp left users frustrated today after going offline across the UK and Europe for more than three hours. The three social network giants, which are owned by Facebook, went down at about 11am, according to monitoring website Down Detector. Facebook is having issues since 6:36 AM EDT. https://t.co/BLSiYCF9KL RT if it's down [...]